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tv   After the Bell  FOX Business  January 8, 2014 4:00pm-5:01pm EST

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[closing bell ringing] they won't reveal numbers to analysts which makes analysts nervous. david: nicole petallides at new york stock exchange. thank you very much. the bells are ringing on wall street. let's look how all the stocks are finishing up. we've been worse today. still a down market t was not a good idea to four out of five days of 2014 be down, so be it. although look at this nasdaq pulling out a slight gain. all the other indexes in the red however. the dow jones industrial earlier, just about an hour ago was down triple digits. so it has recovered somewhat. looks like there are more buyers coming into the market as we go to the close. time now for the front page headlines. the latest federal reserve meeting minutes show the majority of fed policymakers did back the decision to slow down pace of asset purchase this is year when they discussed the issue last month. private employers hired the most people in 13 months in december. adp saying that companies added38,000 workers. the data coming out two days before friday's government jobs
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report on december's numbers. ford's stock is higher today after the company's ceo alan mulally told the associated press he will not leave the automaker before the end of this year. he said he wants to end speculation that he might join microsoft. the struggling book-seller, barnes & noble is finally appoint ad new ceo. this is about six months after the previous chief executive left. the new ceo is michael huspi. head of the company's nook decision. shares of drugmaker forest labs surged after the company announced it is buying specialty pharmaceutical maker from the private equity firm tgp capital. the price tag? $2.49 billion. >> >> chinese e-commerce giant alibaba is planning to set up a gaming platform in china which has the largest number of smartphone users on the planet. alibaba is expected to launch an ipo this ear which could value
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the company at well over $100 billion. "after the bell" starts right now. david: most teenagers don't have meetings with billionaires. silicon valley ceos and hollywood movie stars are looking to invest in their talents but we have a guest who wasn't your average teenager. now at the young age of 18 he is a millionaire who is taking ces by storm and he joins liz live in las vegas. liz, who are we talking about? liz: david, we just ran from interview with qualcomm's ceo over here to yahoo! which shows how far the consumer electronics show has really come. it is not just about consumer gadgets, about the app system, ecosystem of media and of course how something like yahoo! would really be connected. i want to introduce you in a first on fox business interview with nick delasio he created the
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app simply that yahoo! bought a year ago. you taught code in your parents house when you were 12. you are sort of the new brain trust in many ways for yahoo! first, sumley a langage aggregator or summarizer, today, marisa mayer, show the video, because she gave a speech that was very well-received and talked about yahoo! news digest. when your app went away everyone said when it is coming back, here it is. >> absolutely. it is a great day. the app on the store store 24 hours and number one. liz: what does the app do. >> it the app allows you quickly get a sense of die best for top news of the day. we want to give the stories in summarized and easy to understand form. we broke down a new story into units or elements such as atoms. atoms could be summary, images,
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info graphics, stock ticker, maps. the point each unit gives awe different context on the story. liz: are you saying if you go to yahoo! news die best, you, the meaning the reader will be up to speed on themost important news nuggets that happened overnight when you first wake up or whenever you tune in. >> exactly. we have two digests one in the morning, one in the evening every day, seven days a week. you read this product how a newspaper gives you sense of completion how i'm in the know and informed this product gives you that. liz: let me push back. sumly is a interesting concept except through algorithm efforts you distill what could be a complicated story to cliff notes. >> right. liz: are you losing important detail. we as americans should be more educated are we getting into the twitter world of 140 characters? and how does your algorithm make sure that the right details get into the story? >> well the interesting thing with the new product, unlike summly we have editors and
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algorithms at work. liz: so humans. >> humans are involved. liz: headline, humans will be involved in yahoo! news digest. >> we mentioned that yesterday. that helps us get the quality that we want. also the point of the product is that we cluster together multiple articles on a story. so when the user is reading that story, if they want to, they can read all the original articles in full depth. i don't think they will be missing out on news. the point you have the night summary. if you want to go further you can from there. liz: such an interesting story, when you created simply you received a call from chinese ventures. you didn't know what the organization. it turned out to be china's richest man? did you know him when he called. >> i didn't know it would be the richest man in asia's fund. it is surreal to notice i was 15. liz: how did they find out? >> we did a phone call with them. at the end of the phone call i mentioned my age. i have didn't do it at the start
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because i wanted to see if they were interested in the product. liz: what did they say? >> they didn't believe and flew out from hong kong to london so verify it. liz: do you still live at your parents. >> i live same house and same school. final year in the u.k. liz: why did you -- you were courted by many others? >> i was really excited about the mobile strategy of marisa mayer and with they're doing. this product the news digest they given me ability to design and create new products. i wanted that scale and resource i might not have had from other companies. liz: what is next? aside from yahoo! digest, what else are you working for in the pipeline. >> i'm excited about this product. we're working with new paradigms. of the eventually with so many other iterations. liz: as the young pup on the floor here what excites you here ex-yahoo!? have you been work walking
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around what do you say that is the next cool thing. >> i've been walking around there. is new concept like a smart television. or paradigm you own a television with applications and user interface. i think that is interesting. yahoo! is doing stuff there. there are other -- liz: nick sold his company to yahoo! before he could even drive. how about that? congratulationses. >> thank you. liz: i bet you enjoy your new life which is very much down-to-earth. >> thank you. liz: first on fox business. we should all have kids like this. when which come back, oculus rift, this is getting a ton of buzz at ces. virtual reality gamer headset where you actually crawl inside the videogames, david. unbelievable. the but there may be brand new applications for military, for health care and more. brendan iribe is ceo. david: i heard about at that. that was a great kid. some kids you hate who make
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10 million before 18. but he is a nice guy. >> the such a nice guy. he is a sweetheart too. almost putting a frame around us, david. david: very nice. keep that picture, liz. you could have a friend who is a billionaire soon. david: all right. thank you very much. we have breaking news. we'll get back to liz. deals with macy's. they have a job layoff, they have announced they will have to let 2500 people off. there not necessarily through attrition either. this is a big amount that is going to be adding to the unemployment roles. 2500 workers will be laid off by macy's. we have news on t-mobile. the trade in the stock has been halted after hours. they came out with a quarterly results and we're awaiting when that trading begins again of the as soon as it does we'll report to you whether it is way up or way down. there is concern that there will be a surge of trading because of the figure that is just came out on t-mobile, the stock symbol,
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tmus. we'll let you know what happens there. coming up we have a market strategist who sees a 17% market correction on the way. he will tell us why, when he has a particular date. how you can make money in the downturn that he sees. also top cfos are less optimistic about hiring this year. their expectations for sales growth, well, they're at an all-time low for one survey so why are they so pessimistic? an exclusive look with a deloitte partner who is behind the survey. tell us what you think. is the cfo pessimism justified? will there be a sales slowdown in 2014? log on to facebook.com, afterthebell. we'll read your answers coming later this hour. ♪ [ male announcer ] what if a small company
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david: told you before the commercial break, t-mobile shares are halted. let's go to nicole petallides on floor of the new york stock exchange. the numbers are looking pretty good. why is the stock halted after-hours. >> halted prior to the closing bell. after i was on with you, i heard tmus. no more trading rest of the day. halted before the closing bell. about three minutes before. the stock was trading quite
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violently. through the day, see the pop. talk about what we talked about for the numbers. came out with customers results for preliminary of fourth quarter for 2013. they added 664,000 customers. the customer base now moved to 46.7 million at the end of the fourth quarter and churn, 1.7%. the prepaid, net customer additions of 112,000. so, these are some of the numbers that come out that managed to move the stock higher late in the day for it. m u.s. it was -- tmus. i was on before you, with one of the traders couldn't get confirmation at that moment but trading quite heavily and wild going into the closing bell. david: we haven't stopped monitoring. as soon as it begins trading we'll let viewers know. thank you very much, nicole.
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let's get to today's market action. craig johnson from piper jaffrey said we'll see a big correction but you can still make money and he has ideas for you. we have todd horowitz, the market didn't seem to be, i was surprised that most of the participants said that they should end bond purchases by end of 2014. did that surprise you at all? >> hi, david, happy new year. didn't really surprise me because i think, the big majority of the fed really wants to get through with this program but they don't have enough powtory push it over. everybody would like to see the end of qe. they would like to see the bond purchasing stop already. what is happening the bond market itself, as we've seeing 10-year over 3%. david: todd, what happens when the music stops? in particular who will buy the bonds, mortgage-backed securities in particular the fed
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is buying almost exclusively? >> i think what will happen is the market will be in for some pretty heavy selling. i'm not predicting a crash but i do think that we're in bubble territory. what will happen is, the markets will start to take some hits. we have to start seeing real growth. we have not seen jobs. you just heard macy's going to let go of 2500 people. that is just the start. wait until you see what happens with the rest going forward. the jobs picture and market is not in a good state right now. david: craig, you have a very specific forecast. you see a 17% correction coming. tell us how it plays out in your mind. >> thanks, david, happy new year. we think in 2014 a hop, drop and ultimately a pop. we think this market will ultimately work its way a little higher, up toward 2,000. so many people we talk to are believing market is ahead of itself and overdue. we think, yes, it will see a
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pullback and coming from a higher level. we'll see market pull back and retest the key support level where we broke out from. now just look back -- david: let me stop you for a second, craig. markets are rarely orderly. very often when you think will happen is not exactly the way it will happen. there develops momentum. what makes you think it will stop at 17%, the correction? >> well, that's a great question, david. when you look at a long-term s&p 500, you will see that we had been stuck in a 13-year bear market trading range. and in 2013, we broke out above that level much and from a technical perspective, when you break out of those kind of base, you accelerate to the upside. that is exactly what is happening right now. it doesn't stop at year-ends and those kind of a time periods. but then you get ahead of yourself, you pull back and got to come back and retest support. that is where the 17% pull back comes into play. takes us back to about 1650 on the s&p 500.
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we think we'll find good support in that area. then you set ourselves upper for the next big move up in the market. we think by end of 2014 we're at about 2100. so that's a pop at the end of the year. david: well, craig, should i just wait and not buy any stocks until we get that correction? or is there, are there stocks to buy into now even contemplating a 17% correction? >> yeah, so what i think you need to do, commentary about what is happening with rising interest rates, suggest that is we're in a tina environment. there is no alternative. we need to own equities. i would suggest to people, depending on their time horizons, think about buying good, quality, dividend paying blue chip stocks and ride through some volatility. stocks on financial side are cna insurance. they should benefit from a rising rate environment. on industrial side, stocks like spx, or ticker spw look constructive and look like there is more room to work.
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i should say on the consumer cyclical side, stocks like gco look constructive. those are three names we would focus on and again believe we want to take a longer-term perspective on this arket. david: todd horowitz, i want you to look into the crystal ball. tell us when rates are really going to pop. we keep having days when there are three or four basis point pops but when will it start moving to the upside? >> i think late second quarter, early third quarter, when we see rates start to take over. i wouldn't be surprised to see 4% by end of the year. david: late second quarter, early third quarter, you agree craig, quickly? from our perspective we think we'll be in 3.25, 3.5% range at end of 2014 based on set up on benchmark 10-year bond yield. only concern is if rates come up too quickly we'll have another june 2013 on our hands. that could trigger ultimately that 1% pullback. david: wonderful stuff. craig johnson, todd horowitz,
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thank you very much. good to see you both. >> thank you. david: could we final hi say good bye to subzero temperatures and bone-chilling wind in the northeast? we have your forecast straight ahead. some of us take the train and bus and drive. forget about land transportation. how about commuting on water? we'll tell you which big-name companies help employees get to work in a private ferry. that story is coming next. ♪ [ me announcer ] this is the story of the dusty basement at 06 35th street the old diningable at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic momt it is the story of where every great idea begins. and of those o believed they had the power to do more. dell is honored to be part of some of the world'great stories. that began much the same w ours did.
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david: time for a quick speed read of some of the day's other headlines. five stories in a minute. first up, super luxury car brand, bentley, geraldo's
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favorite brand, had 19% sales rise worldwide. the market expanded as buyers bought fewer super luxury cars than they did in 2012. citigroup is reportedly consider selling a one billion dollar stake in private equity fund in an effort to comply with new regulations. citigroup sold 8.5 billion in private equity holdings last year. 2013 was most successful year in history for apple's app store with sales reaching more than $10 billion. apple reported that customers spent over one billion in december alone, downloading three billion apps. what is being dubbed the cheese apocalypse, kraft warned there could be a temporary shortage of velveeta cheese, claiming the product is a huge hit during football-viewing parties . google start ad priorityprivate ferry service to shuttle employees from its offices. it makes two trips a day and
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that is today's "speed read." [buzzer] david: will 2014 be the same? rich edson from d.c. with a look at u.s. chamber of commerce strategy for pro-business environment where they spend money on hireees. rich? >> david, ceo tom donahue warns washington continues to restrain the economy. he cites an inefficient tax code and immigration system. donahue says he will try to work with the administration and congress what he calls overregulation though he doubts the chamber will make much progress. >> when these efforts fall short and they will, sometimes, and regulators insist on overstepping their bounds, then we'll do what we know how to do, and we'll head to the courts and sue them. >> the obama administration had a smart, pragmatic approach to assure we're reducing burdensome regulations. >> donohue says the chamber will
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work to elect pro-business candidates, saying they will be active in half a dozen races to work with those in the legislative process. in other words to oppose candidates who threaten to shutdown the government or breach the debt ceiling. he weighed in on congressional democrats to renew unemployment benefit. he believes congress will extend them with job creation picking up he said lawmakers shouldn't do so for very long. back to you. david: rich edson, in washington. rich, thanks very much. so-called polar vortex is loosening its icy grip on much of the nation. what is next for nearly 200 million americans caught up in the record-breaking freeze? we head to the fox weather center for the very latest. let's go back to liz to find out what she has coming up in las vegas, liz? >> it hasn't even hit the store shelves yet. the prototype is coming. they have sold thousands of kits. we're talking about something with a very serious name.
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oculus rift. it lets you crawl inside videogames. virtual reality headset, giant. we have a fox business exclusive with brendan iribe. >> the man behind oculus. stay tuned. wait until you see this one. [ male announcer ] meemary. she loves to shop online with her debit card. and so does bill, an identity thief whole mary's identity, took over her bank accounts,
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[ male announcer ] no one protects you better than lifelock. you even get a $1 million service guarantee. that's security no one can beat. you have so much to protect and nothing to lose when you call lifelock right now and get 60 days of identity theft protection risk free. that's right. 60 days risk free. use promo code: take charge. order now and ge this universal device charger, great for everything from smart phones and cameras to tablets, keeping your digital life powered at home, the office, or in the car... a $30 value, free! don't wait until you become the next victim. ♪ and get a universal device charger free. use promo code: take charge. ♪ david: the arctic-like temperatures are beginning to ease in some parts of the
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country after a record breaking cold-snap. fox news's chief meteorologist back from way up north, rick reichmuth, joining us now with the very latest. rick, other than the aurora borealis, there was not much good news about this cold, right? >> there has been a big solar flair, off topic. a big solar flare happened today people in lower 4potentially seeing the northern lights. that is good news. taking a look at temperatures overnight, things are still improving. oranges and red doesn't mean it is warm but almost everybody in the eastern half of the country seeing temps 20 degrees warmer than 24 hours ago. actually what that feels like is still very cold. temps in the single digits in the great lakes. it is getting, better, david. take a look at this, tomorrow high temperatures into the 20s across the far northern plains. that is improvement. 13 in marquette. go to friday though, 38 degrees in chicago. it will feel so much better than
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temps well below zero. new york city, 43. go to the day on saturday, we have 50s across the eastern seaboard. 54 in boston. there will be rain along with that but at least temps getting better. new york city, next couple of days, our average is 38 degrees. friday we go above that finally. the weekened is looking good. monday, tuesday, starting out next work week, temps above average. the atlanta area, same story. this cold is way down across the deep south. saturday you get 10 degrees above the averages and stay across the range for the coming work week. we're getting better. tonight is another cold one. tomorrow a cool one. then friday, almost everybody, david, looking better. david: good news for new york. we're out of the teens. it is 20 degrees. yesterday we couldn't get out of single digits. at least today we're out of the single digits. rick reichmuth. thank you very much, my friend. no manager has better idea
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of the surrounding marketplace than the chief financial officer. no one does a better job surveying ceos than the accounting firm deloitte. the one in charge of the cfo program is sandy cockrell, joins us in a fox business exclusive to discuss exactly what they found. sandy, thanks for coming. first of all, what kind of companies are you surveying? >> these are the country's 100 largest companies, multinationals that trade around the world. david: there is optimism, particularly about internals. everybody is getting tight and good at cut cutting expenses. there is pessimism about sales growth. explain. >> what the survey said, cfos are forecasting 4.1% year-over-year sales growth. that is actually a survey low. we've run the survey four years, 15 quarters and that is the survey low. david: this is the smallest increase, there you see it, number three on that list there, sales growth, 4.1% but incredible thing that earnings are twice thaa.
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how can you double earnings of sales growth. >> great point. that is the trend. last few quarters of the survey. what we found is that the revenues have continued to pretty much flatten out but earnings have actually been pretty healthy. this quarter at 8.6% which is up a little bit from last quarter's survey low of 8% but still down from the survey average -- david: is that because of layoffs and because of tightening? there is limit how much tightening you can do to get earnings? >> cfos are pretty confident they can execute internal on cost controls. that is why we see internal optimism. david: the interesting thing, productivity come down a little bit in this country. and yet, i imagine productivity is part of the reason why they keep earnings up despite sales coming down? >> no question about it. they're looking for external sales growth. david: why is it? what is the reason why sales are going to be down? >> they're not forecasting any external growth in the marketplace. when you look at major economies
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which these companies trade they are not very confident there is general economic growth to lift these up. david: these are very significant, prognostications because cfos advice managers below them to buy equipment based on their growth figures. >> yes. david: does that mean the big-ticket items will not be bought as much because they have lower growth forecasts? >> what is being forecast is 6.5% increase in capital spending which again below the survey average. it is up from last quarter but still relatively low. david: interesting. the costs of regulations, in particular obamacare, let's talk about obamacare. we know small and medium-sized companies, the 49ers and above are getting hurt particularly hard. how about the big guys. >> what we're seeing two things. first of all no question trends are across the company group they're pushing more costs to the employees. what the survey says 40% of cfos -- david: you have to say survey says. >> survey says 40% of the
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cfosare pushing costs to their employees because of obamacare. david: so employees will bear the brunt of this. >> that's what we'll see. david: in terms of higher out of salary cuts? >> yes. two things. number of one, sharing costs of premiums. also higher deductibles to keep the plan cost down. david: hiring of workers if you have, p you have fewer workers, particularly more part-time workers you can save money on obamacare. >> that's right. david: is that coming into the forecast? >> we asked the question. at this point point a little too early to tell. only 4% of the cfos said they shifted from full-time workforce to part time. we're still aways away from the employer mandate kicking those questions will be more relevant next few quarters. david: not just obamacare. we have bunch of new financial regulations. how do they factor that in. >> regulations are number one cited risk especially when you get into industries. that is something they have a big fear will actually continue to curtail the growth of having
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to fly with regulation that is are unforeseen and unpredictable. >> let's end on an optimistic note because we started on a pessimistic. >> okay. david: internals are so good, have you ever seen the internals in terms of way these big corporations are run better than they are now? >> no, they're actually extremely efficient. this is the first time in the history of the survey we've seen four consecutive quarters where cfos were more optimistic than less optimistic. that's a pretty good sign. david: does that mean our global positioning is terrific? we always hear, we've been hearing past couple of weeks, look to europe because that is where you should put your money. sounds like what you're saying we're going to beat the hell out of those guys? >> it is pretty interesting. if the you look at north american economy cfos are relatively optimistic about that. more than half will be better a year from now. china, roughly the same thing, 40% of the cf opts say it is good today. it will be good a year from now. europe is a different story. only 4% of the cfos said europe had a good economy. less than a quarter expected to
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improve in a year. david: sandy cockrell, deloitte national program managing partner. great study. great survey. thanks for bringing it to us exclusively. >> thank you. david: crazy as it seems after this crazy weather business is booming for ice-making companies. we'll take you to chicago to find out why at the aptly-named, polar ice company. we'll go back to liz in las vegas as well. liz, what is coming up? >> well, one of the biggest, buzzsiest pieces is oculus rift. it is a headset not even on the market. it visiter wall reality gaming system. fox business about to reveal it with the crystal motion action. we've got it and ceo exclusively in a second. it helps you crawl inside of a videogame. ♪ mine was earned orbiti the moon in 1971.
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david: we've all been eskimos with parts of the country with record breaking temperatures. would you think the last thing on somebody's mind would be ice, buying an selling ice. believe it or not an ice company is keeping quite busy selling ice in these temperatures. how do you sell ice to an eskimo? jeff flock live in chicago with an answer to that. >> we wanted to warm up. so we came to an ice company where it is warmer inside than outside. look at this. this is dry ice at the polar ice company. that starts at 109 degrees below zero fahrenheit which is even colder than it was here. luis, what do you have in the cooler there? >> regular ice, ice cubes, snow cone. >> pull it open. i'll tell you, david, out here it was 12 earlier today. but oops, sorry, almost broke the door. go in there behind you. inside here it is 22, which is
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balmy actually by comparison. i want to show you if i can the warm-up that is coming. we had an extraordinary week in the u.s. look what these temperatures will do going forward. by saturday, in new york, it will be, in the 50s. in d.c. it will be in the 60s. here we'll take our shirts off because it will be almost 40 degrees. but you still sell a lot of ice even in the cold, luis. what am i seeing right here? >> that is a 50-pound block what you see. >> 50-pound blocks? >> yeah. >> i'm looking over here. i look back here and i see snow cone ice. i'm fascinated, you shipped some of this out today. who uses snow cone ice in the middle of january? no a lot of moms. they have indoor ice cream shops. they use for snow cones. >> look at some of the cold customers of the polar ice company. you take a look at some of their stocks. they have done pretty well. convenience stores. grocery stores. >> gas stations.
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and you know, cvss, walgreens, corner stores. that is who we distribute to. >> gotcha. business has been booming here, david, i'll tell you. we have crushed ice of the we have bagged ice over here. people continue to buy ice even in the cold weather. polar ice company. i have can't even pick it up. it is pretty rough but believe it or not it is a lot warmer in here than i have seen all week. david: when you have to go into an ice room to get warm you know things are bad. jeff flock, good to see you. >> thank you. david: jeff flock in chicago. we heard about drones being used for a lot of tasks recently but you will not believe what this drone, it's name is beetle copter is designed to do. you probably get clues from the name. liz in las vegas, oculus, plastic used to be the word. now it is oculus. what is that about? >> i'm waiting for the virtual
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headset. it is amazing. we'll show it in a second. how quickly you can charge things with blah flame. virtual reality headset -- blue flame. we have quite a surprise. much oculus rift, a fox business exclusive coming up. ♪ [ male announcer ] this m has an accomplished research and analytical group at his disposal. ♪ but even more pressive is how he puts it to work for his clients. ♪ morning. morning. thanks for meeting so early. , it's not a big deal at all. come on in. [ male announcer ] it's how edward jones makes sense of investing. ♪
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is liz: as we walk down the massive halls of the consumer electronics show in las vegas you run into things like this, you meet dr. fuji. what is this, dr. fuji? >> this is workout machine. liz: workout. what is it called? >> [inaudible] liz: that is name of it. butt show. see how it works. >> 10 minutes. do it yourself. liz: 600-calories per minute. >> 10 minutes. liz: 10 minutes okay. >> guaranteed. liz: who wants this? >> everybody. walk in place. tired, stiff. work out about 10 minutes. liz: google has purchased, dozens of these from dr. fuji. are you successful? >> oh, yes.
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awe working this project. people i'm strong. liz: how does it work here, show us. what is it? exactly. i'll get on. okay. it's a lovely title the butt show. look, we'll have our team up here. doesn't feel like i'm doing anything. how do you burn calories? this is ridiculous. you get back on. so you dance around? >> come on. [inaudible] liz: dr. fuji, ladies and gentlemen. how much do they cost? >> retail 4,000. today, 500. liz: so you're giving a discount? >> yes of course. liz: but 4,000, right. >> retail. liz: can you prove it burns all the calories in 10 minutes? >> i'm a medical doctor. come on. liz: i want him operating on me. no, i'm kidding. look at a little picture hire.
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this one says, is sold. liz: sold. might want to get better artwork >> we show the butt contraction muscle. [inaudible] liz: i see. >> only 10 minutes. liz: listen, congratulations. this is classic consumer electronics. thank you, dr. fuji. >> come on! liz: like central casting, right? ces, david. i will send it back to you. david: a medical doctor, a medical doctor? all right. we'll have to take his word for it. thank you, liz. new use for drones. one photographer is using a homemade drone to capture new and stunning footage of the serengeti desert. that story straight made on fbn. 't any other way. 't but your erectile dysfunction - it could be a question of blood flow. cialisadalafil for daily use helps you be ready anytime the moment's right. you can beore confident in your ability to be ready.
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liz: we are going to end our coverage of consumer electronics show 2014 with a little fun and we're talking about a little amazing fun. behold, the oculus rift. this is one of the most talked about products here at consumer electronics show. it is a virtual reality headset and in a fox business exclusive we are showing this to you. brendan iribe is the creator, founder. you worked with palmer lucky, the one who cobbled original one together with things he found in his parents garage. now you have this.
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what is it? >> this is the oculus rift. this is the we're here at ces prototype. it is still prototype. not out for consumers yet. for the first time virtual reality works. this is something people have been imagining some years, 30, 40 years, people are thinking one day we'll put on a headset and be in the game. hasn't happened until now. now it works. liz: but it is not on shelf yet? >> not yet. liz: you have sold 40,000, wait a minute, we heard you had sold 40,000 kits so far. is that number correct? >> 46,000. it continues to sell. liz: breaking news, it is now 46,000. how much are the developer kits. how much do they cost? >> $300. liz: $300. >> launched on kick-starter and then on our website after that. kick-starter we sold a little over 11,000 and since then we sold 40,000 on our website. liz: one of the top venture capitalists mark andreessen saw
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this and said i'm in. >> creator of internet and netscape. joiners round of 75 million. to date we raised 90 million for the venture which is a awful lot in 60 months. liz: a huge vote of confidence. from a gaming standpoint, what do i get from this? >> this is a whole new experience. we've been playing games for the last 30 years. 19, what is it, 77 that apple brought out the, or apple brought out the apple 2 gs. since then we've been playing fame on monitor, 2-d monitor or 3-d. there is three deexperience. there is no window to the world -- 3-d experience. liz: what games are available when this comes to market? >> just like pc, game console or even mobile device there will bb a huge slate of games. there will be games from big publishers and big developers. a lot of games actually from
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indy. apple iphone or android platform ask popular with tons of apps from indis first. that's what we expect from virtual realty. small developers will make amazing. liz: 3-did stereo skop pick. >> true stereo skoppic. liz: one of the biggest crittisms about these, when you put them on it gives you motion sickness. i talked to couple of people. one tried it and said he got motion sick. i know you worked very hard to make sure that goes away but has it truly been solved? >> it will never be 100% solved. there are people who can't play games on 2-d television or pc still. we'll get much closer. we joke if you can handle reality you should be able to handle virtual reality once we track things well enough. we're getting very close. here at ces we're talking about the prototype and talking about
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come fort and comfortable experience. we're getting much, much closer. liz: it is. has a lot of padding and show right here. i just put it on and felt very comfortable. samsung and sony, might be comfortable trying not to knock it off but try to develop their own. three years ago, sony gave me a virtual headset to try. wasn't as developed as this they're knocking on the door too. >> they're thinking about it. we're talking to a lot of folks. right now we're developing our own technology, completely on our own but we're also out there and engaging and looking what else is coming. being aware of technology. right now we have really a very unique approach that nobody has taken before, using actual cell phone technology in there to give this incredible experience that allows to you deliver at low price point. if you look what sony is doing, they announced in the keynote new headset that is 12 or 1300 pounds which is over $2,000. this is $300. liz: affordable and china, david, just lifted its ban on
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videogame consoles. so perhaps this will be included under. good luck. >> thank you. liz: brendan irib he, ceo of oculus rift. remember the name, 46,000 kits are sold, david. we'll be watching this one. big, big create tivity. back to you and signing off from the terrific crew at ces 2014. david: wonderful stuff. wonderful crew. i would risk the motion sickness to get in on that. started on kick-starter, another successful kick-starter start. liz, thank you very much. great week. liz: thank you. david: let's go "off the desk." amazon is developing drones for delivering packages but how about drones for filming wildlife? a british wildlife photographer is capturing some stunning aerial shots of africa using a homemade drone, called the beetle copter. the homemade drone is smaller and quieter than a helicopter so you can get up close to the wildlife without scaring them off. the photographer can control the drone from half a mile away
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using remote screen and virtual real think goggles. look at that. incredible. key survey of cfos found a pessimistic view on sales growth which hit an all-time low. so we asked you on facebook and twitter if you think this pessimism is justified? will there be a sales slow down in 2014? david: two stocks to keep an eye on. macy's well slash 2500 jobs as part of restructuring. they're up after-hours. that so often happens when companies announce layoffs and then the stock goes up afterwards. we are also keeping an eye on it. mobile as well. still the stock is halted after it announced that it added 1.6 million customers in the
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fourth quarter. so look to see what happens to that. i'm looking right now. yep, it is still halted after-hours. thank you for joining us today. we'll see you back here tomorrow. "money" with melissa francis is next. melissa: oh, yeah, that is some cash, baby. doing good out here today? >> yeah, doing good. melissa: he is the not the only one turning cold weather into cold hard cash because even when they say it's not it is always about money. melissa: oh, baby, it is cold outside. if you're selling ice cream or offering bike rides, you might expect to see frozen profits and patrons fleeing to the nearest coffee shop. but at the iconic serendipity 3 in new york city, people are still lining up outside of the restaurant for a chance to sample their signature frozen

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